In this report we demonstrate the utility of resource allocations that use virtual machine technology for sharing parallel computing resources among competing users. We formalize the resource allocation problem with a number of underlying assumptions, determine its complexity, propose several heuristic algorithms to find near-optimal solutions, and evaluate these algorithms in simulation. We find that among our algorithms one is very efficient and also leads to the best resource allocations. We then describe how our approach can be made more general by removing several of the underlying assumptions
